Oil scores record prices, OPEC discusses prices

The light American crude oil yesterday registered a new high record price of 47.52 dollars per one barrel via electronic trading in London amid fears among the dealers of the increased pressures in the world demands for oil and tension in Iraq.

The price of the American crude oil in London yesterday increased by 25 cents so as to surpass the record number it registered in New York on Wednesday when it reached 47.50 dollars per one barrel, while Crude Brent incresed 22 cents to 43.25 dollars per one barrel.

In this context, the chairman of OPEC, the minister of Indonesia Bornomo Yusijiantoro stressed that members of OPEC delegations have not yet given their proposals on the new prices which will be discussed during OPEC meeting in September 14 in Vienna.

He told journalists that the question of pricing will be discussed during the next meeting of the organization but the level of the price change is not known yet because OPEC members have not proposed their suggestions.

OPEC news agency said that the price of the organization's crude basket reaches highest record prices on Thursday which reached 42.07 dollars per one barrel.